Bangkok--3 Jul--Master Mind Communications
Property Choice believes pre-owned properties will continue to expand against the overall sluggish property sector because homebuyers can simply take advantage of the price, design and location. In the 3rd quarter of this year, homebuyers are given a great opportunity to select quality pre-owned properties as the Department of Legal Execution joins Global Thai Property Mutual Fund and Palarp Asset Management Company to host a series of auctions for properties located in Bangkok starting on July 27, 2006. The pre-owned properties will be offered for auction at the starting bid price equivalent to only 50-80% of the official appraised value.
Kasig Sriswasdi, Marketing Director of Capital Advisory Services (Thailand) Co., Ltd., operator of an asset management unit under the name “Property Choice”, disclosed that the property sector during the 2nd half of 2006 would continue to be sluggish due to various economic factors namely rising oil prices, higher interest rates, continued political gridlock and unstable economic situation. “These factors have directly affected the purchasing power as well as purchasing decision on the part of homebuyers. However, the pre-owned homes are looking strong due to the price attraction especially those below 2 million baht. Property Choice understands the market demand and is set to offer over 80 pre-owned property items at that price range,” he said.
“Pre-owned or not so expensive brand-new homes will remain in demand of consumers. Pre-owned houses are good in terms of the size and price advantages with various locations to suit the convenience. The sales of pre-owned homes in Bangkok suburbs or near Suwarnnabhumi Airport are showing steady increase. As the new international airport is nearing its opening, employees are rushing to own not so expensive homes nearby,” he said.
The Department of Legal Execution in conjunction with Global Thai Property Mutual Fund and Palarp Asset Management Company will host a series of major property auctions in the 3rd quarter of this year to offer over 80 pre-owned property items situated in Bangkok, which include single-detached homes, townhouses, condominium, shop houses and empty lots worth over 120 million baht in combined appraised value. The opening bid price will be equivalent to 50-80% of the official appraised value. The auction will be held at an office of the Legal Execution Department in Bang Khunnont on July 27, August 17, September 1 and September 13 this year. The auction will start from 9.00 am onward.
Attractive pre-owned property items are as follows: Single-detached houses — Preecha Lampet Project, Ramkamhaeng at 91 square wah and appraised value of 3.29 million baht, Baan Suay Rim Tarn 2 Tawee Wattana Project at 55 square wah and appraised value of 1.96 million baht and Thip Nakorn Suan Thon Project at 93 square wah and appraised value of 1.85 million baht; Townhouses — Viset Suknakorn Project Pracha-Uthit at 79.21 square wah and appraised value of 1.16 million baht and Wangthong House Project Nawamin Road at 25 square wah and appraised value of 1.02 million baht; Condominium — Omni Complex Sukhumvit Soi 4 at 65 square meters and appraised value of 2.09 million baht; SV City Rama III at 69 square meters and appraised value of 1.8 million baht. There are also shop houses and empty lots in prime locations within Rachadapisek, Ladprao, Sukhumvit and Ramkamhaeng Roads up for auction.
“Interested auction participants can inspect the condition of offered properties prior to the auction. For more information on the auction please contact: Property Choice Call Center at 0-2250-9500 every business day or visit www.propertychoice.net ,” he concluded.
“Property Choice” is operated by Capital Advisory Services (Thailand) Co., Ltd., leading operator with respect and recognition in the asset management industry, whose slogan is “Property Choice: Choice for homebuyers, alternative for good pre-owned homes”
For more information please contact:
Master Mind Communications Co.,Ltd
Tel : 0-2643-1191-2
Fax : 0-2643-1192
Capital Advisory Services (Thailand) Limited
Tel.0-2250-9500 or www.propertychoice.net